EquityPandit’s Outlook for HDFC Bank for the week  (Dec 11, 2017 – Dec 15, 2017) :

HDFC BANK:

HDFC Bank closed the week on negative note losing around 0.40%.

As we have mentioned last week, that minor support for the stock lies in the zone of 1830 to 1840. Support for the stock lies in the zone of 1810 to 1820 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of around 1770 to 1780 where medium term moving averages are lying. During the week the stock manages to hit a low of 1800 and close the week around the levels of 1840.

Minor support for the stock lies in the zone of 1830 to 1840. Support for the stock lies in the zone of 1820 to 1825 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of around 1790 to 1800 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 1845 to 1850. Resistance for the stock lies in the zone of 1870 to 1880 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1900 to 1910.

Broad range for the stock in the coming week can be 1800 to 1810 on lower side & 1900 to 1910 on upper side.